Catering marketplace and software platform ezCater raised $150 million in its latest funding round, boosting its lifetime funding amount to $320 million and the company’s total valuation to $1.25 billion, the company announced Tuesday.
The investment, which will be used for global expansion, was co-led by Lightspeed Venture Partners and Singapore-based investment firm GIC.
“Catering is growing 50% faster than the rest of the industry … but it’s different,” ezCater CMO David Meiselman said Tuesday at the Food on Demand Conference. “Both the buyers and the sellers approach it differently.”
ezCater has grown steadily since it was founded eight years ago. Last July, it acquired Paris-based online catering platform GoCater. And last month, the company purchased MonkeySoft Solutions, a software company geared toward boosting off-premise sales.
"Not only is the topline on catering growing significantly, but it's helping grow the bottom line,” Meiselman said.